IGNOU BCOG 171 Solved Assignment 2024-25 English Medium PDF Download

IGNOU BCOG 171 Solved Assignment 2024-25 English Medium Question Paper

BCOG 171 : PRINCIPLES OF MICRO ECONOMICS

Section-A
(Attempt all the questions. Each question carries 10 marks.)
Q.1 Explain the concept of a Production Possibility Curve. Enumerate its assumptions. Illustrate it with the help of an example.
Q.2 Explain the law of demand with the help of a demand schedule and a demand curve. Also explain its exception using the distinction between substitution and income effects.
Q.3 Distinguish between Perfectly Elastic, Perfectly Inelastic, Unit Elastic, Inelastic and Elastic supply curves with the help of diagrams.
Q.4 What do you mean by marginal rate of substitution? Why does marginal rate of substitution of X for Y fall when quantity of X is increased?
Q.5 How is the Long run Average cost curve derived from Short run Average cost curves? Use suitable diagrams

Section-B
(Attempt all the questions. Each question carries 6 marks.)
Q.6 What are the characteristics that have to be considered while identifying a Market structure?
Q.7 Why should equilibrium between marginal cost and marginal revenue be a necessary condition for equilibrium of a firm?
Q.8 Distinguish between interest and profit. Is it not correct to say that both are earned by the capitalists for the capital they invest in the production process?
Q.9 What are the various sources of profits? Do you think that all profits can be explained in terms of the monopoly power exercised by the producer?
Q.10 What is full-cost pricing principle? Does it lead to a higher than optimum production?

Section-C
(Attempt all the questions. Each question carries 5 marks.)
Q.11 Write a short note on the claimed superiority of indifference curves analysis over utility analysis.
Q.12 How the various tools of government intervention are applied while determining the price?
Q.13 What is backward bending supply curve? Explain with an example.
Q.14 Define functional distribution and distinguish it from personal distribution.

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